Financials

v3.7.0.1
Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Jun. 30, 2017
Dec. 31, 2016
Current assets:    
Cash and cash equivalents $ 3,451 $ 3,640
Accounts receivable 21
Prepaid expenses and other current assets 196 517
Mortgage note receivable 1,294 1,294
Total current assets 4,941 5,472
Property and equipment, net 268 280
Deposits 31 31
In process research and development 53,905 53,905
Goodwill 65,195 65,195
Total assets 124,340 124,883
Current liabilities:    
Accounts payable and accrued expenses 1,093 563
Derivative liabilities 707 1,476
Total current liabilities 1,800 2,039
Long-term liabilities    
Deferred rent 42 63
Deferred tax liability 20,462 20,462
Total long-term liabilities 20,504 20,525
Total liabilities 22,304 22,564
Commitments and contingencies
Stockholders' equity:    
Common stock, $0.001 par value; 800,000 shares authorized; 726,532 and 714,032 issued and outstanding as of June 30, 2017 and December 31, 2016, respectively 727 714
Additional paid-in capital 242,290 239,035
Accumulated deficit (140,981) (137,430)
Total stockholders' equity 102,036 102,319
Total liabilities and stockholders' equity $ 124,340 $ 124,883

Source

v3.7.0.1
Condensed Consolidated Statements of Comprehensive Loss (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Jun. 30, 2017
Jun. 30, 2016
Operating expenses        
Research and development $ 1,255 $ 2,368 $ 3,325 $ 5,710
General and administrative (55) 1,836 996 3,829
Total operating expenses 1,200 4,204 4,321 9,539
Loss from operations (1,200) (4,204) (4,321) (9,539)
Other income (expense)        
Interest income 39 1 89
Change in fair value of derivative liabilities 198 938 769 2,211
Total other income (expense), net 198 977 770 2,300
Loss before income taxes (1,002) (3,227) (3,551) (7,239)
Income tax expense
Net loss and comprehensive loss $ (1,002) $ (3,227) $ (3,551) $ (7,239)
Net loss per common share:        
Loss per share, basic $ 0.00 $ 0.00 $ (0.01) $ (0.01)
Weighted average common shares outstanding, basic 724,633,000 704,256,000 719,332,000 700,204,000
Loss per share, fully diluted $ 0.00 $ 0.00 $ (0.01) $ (0.01)
Weighted average common shares outstanding, diluted 724,633,000 705,606,000 719,332,000 701,446,000

Source

v3.7.0.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Operating activities:    
Net loss $ (3,551) $ (7,239)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation 52 109
Stock-based compensation 268 1,436
Change in fair value of derivative liabilities (769) (2,211)
Change in deferred rent (9) (4)
Changes in operating assets and liabilities:    
Accounts receivable 21 19
Prepaid expenses and other current assets 321 (247)
Accounts payable and accrued expenses 530 (1,071)
Net cash used in operating activities (3,137) (9,208)
Investing activities:    
Purchase of fixed assets (40) (36)
Long-term deposits (12) (25)
Principal payments received on mortgage note receivable 8
Net cash used in investing activities (52) (53)
Financing activities:    
Proceeds from issuance of common stock and warrants 3,000 5,004
Proceeds from exercise of stock options 3
Net cash provided by financing activities 3,000 5,007
Net decrease in cash and cash equivalents (189) (4,254)
Cash and cash equivalents at beginning of period 3,640 9,276
Cash and cash equivalents at end of period 3,451 5,022
SUPPLEMENTAL DISCLOSURE OF NON-CASH INVESTING AND FINANCING ACTIVITIES:    
Cashless exercise of warrants $ 35

Source